Envestnet Portfolio Solutions Inc. Sells 2,368 Shares of Corpay, Inc. (NYSE:CPAY)

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 49.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,400 shares of the company's stock after selling 2,368 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Corpay were worth $837,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Colonial Trust Co SC increased its holdings in Corpay by 120.5% in the 4th quarter. Colonial Trust Co SC now owns 97 shares of the company's stock worth $33,000 after purchasing an additional 53 shares in the last quarter. Assetmark Inc. increased its holdings in Corpay by 93.8% in the 4th quarter. Assetmark Inc. now owns 124 shares of the company's stock worth $42,000 after purchasing an additional 60 shares in the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Corpay in the first quarter valued at about $45,000. EverSource Wealth Advisors LLC increased its stake in shares of Corpay by 70.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 133 shares of the company's stock valued at $45,000 after buying an additional 55 shares during the period. Finally, Knuff & Co LLC acquired a new stake in shares of Corpay in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James Financial reissued an "outperform" rating and issued a $414.00 price target (down previously from $417.00) on shares of Corpay in a research note on Wednesday, May 7th. Wall Street Zen cut Corpay from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group decreased their price target on Corpay from $400.00 to $365.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their price target on Corpay from $375.00 to $339.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Oppenheimer assumed coverage on Corpay in a research note on Monday, April 28th. They issued a "market perform" rating for the company. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Corpay presently has a consensus rating of "Moderate Buy" and a consensus target price of $401.86.

Corpay Trading Up 0.4%

NYSE CPAY traded up $1.32 during trading hours on Friday, hitting $327.36. 473,382 shares of the company's stock were exchanged, compared to its average volume of 476,915. The stock has a 50-day simple moving average of $329.64 and a 200 day simple moving average of $343.05. Corpay, Inc. has a 1-year low of $264.08 and a 1-year high of $400.81. The firm has a market cap of $23.08 billion, a price-to-earnings ratio of 22.96, a PEG ratio of 1.37 and a beta of 0.96. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.69.

Corpay (NYSE:CPAY - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $4.51 EPS for the quarter, topping the consensus estimate of $4.50 by $0.01. Corpay had a return on equity of 41.61% and a net margin of 25.15%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter last year, the firm posted $4.10 earnings per share. The firm's revenue was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.